Industrial Bank of Kuwait

Last updated
Industrial Bank of Kuwait
Company type Private
Industry Banking
Founded1973;52 years ago (1973)
Headquarters Kuwait City, Kuwait
Key people
Ali A. Khajah (CEO)

The Industrial Bank of Kuwait (IBK) was established in 1973 in the Kuwait through a government initiative. [1] It specializes in providing financial support for the Kuwaiti industrial sector.

Contents

History

It was founded by the government of Kuwait in partnership with private sector institutions to support the country's development and enhance the international competitiveness of Kuwaiti companies. In its initial phase, being the first bank in the Gulf Cooperation Council region to specialize in industrial development, IBK's main focus was to provide medium to long-term financing for industrial projects. [2] Currently, majority of the bank’s shares are owned by the public authorities, [3] including the Ministry of Finance, the Central Bank of Kuwait, and the Public Institution of Social Security. [4]

Financial performance

As of 2024, the bank’s capital stands at KWD 20 million. [5]

See also

References

  1. ↑ "About IBK". ibkuwt.com.
  2. ↑ Ventura, Luca (2024-03-04). "Top 10 Banks in Kuwait". Global Finance Magazine. Retrieved 2024-06-17.
  3. ↑ "Fitch Affirms Industrial Bank of Kuwait at 'A'". fitchratings.com. Retrieved 2024-06-17.
  4. ↑ "About IBK - SHAREHOLDERS AND OWNERSHIP". ibkuwt.com.
  5. ↑ "KUNA : Industrial Bank of Kuwait marks 50th anniversary - Economics - 08/01/2024". www.kuna.net.kw. Retrieved 2024-06-17.


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